Tax liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 June 2018
Received an advance of Rs 10 lakh during April through RTGS for sale of my house at a considered price of Rs 40 lakh. However, due to prolonged delay by the buyer and ill-drafted sale deed I decided to return the advanced money received. It was in my savings bank for three months. My query is whether I have any tax liability for the assessment year 2019-20 and how?
25 June 2018
No tax liability as advance received is refunded.
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 June 2018
Thanks Mr.Seetharaman for your prompt response.
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